As of May 18, 2021, the average salary for a Drilling Engineer V in New Mexico is $208,094 per year, which breaks down to an hourly rate of $100.
However, a Drilling Engineer V's salary can vary significantly. Here’s a look at the typical salary range:
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A Drilling Engineer V's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location and company size can directly affect your earning potential.
Experience is a primary driver of a Drilling Engineer V's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Drilling Engineer II | 2-4 years | $126,146 |
| Drilling Engineer III | 4-7 years | $156,292 |
| Drilling Engineer IV | 7+ years | $174,162 |
| Drilling Engineer V | 7-10 years | $208,094 |
| Drilling Engineering Manager | 10+ years | $167,326 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Drilling Engineer Vs. For example, consider the average annual salaries in these key locations:
Understanding how a Drilling Engineer V's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on May 18, 2021Promotions are the fastest way to increase your earnings. As a Drilling Engineer V, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Drilling Engineering Manager | $167,326 | -20% |
| Reservoir Engineer VI | $269,403 | 29% |
Ready to take the next step in your career? Browse thousands of current Drilling Engineer V job openings on our job board. Use the search bar below to find your perfect match.
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